Bitcoin price is back at nearly $57,000 and is less than $10,000 away from a new setting a new all-time high and heading back into price discovery mode.
It is also moments away from re-entering the RSI bull zone, which in the past has led to cryptocurrency cycle climaxes and a bear market to follow. Here is a closer look and what to watch for.
Bitcoin Price Readies Aggressive RSI “Bull Zone” Reentry
Bitcoin price action doesn’t behave like other assets. Its speculative nature helps it to follow technical analysis well, but remains highly volatile.
But in some cases, when FOMO begins, even technical indicators begin to behave irrationally. The Relative Strength Index, for example, is an oscillator that tells a trader when an asset